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Ivory Coast: Public debt up by 6.6 billion dollars over one year

24/09/2021
Categories: Economy/Forex

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The public debt of Côte d'Ivoire today amounts to 17,676.1 billion FCFA. According to the International Monetary Fund (IMF), the country's risk of over-indebtedness remains moderate for the time being.

    

As part of the annual consultations with Côte d'Ivoire, the IMF indicated that the country's ability to cover repayments remains satisfactory, with a moderate risk of debt distress and limited space to absorb shocks. From 13,993 billion FCFA the previous year, Côte d'Ivoire's public debt now stands at 17,676.1 billion, an increase of 3,683.1 billion FCFA (about 6.6 billion USD). This increase of around 26% is attributed to several factors, including the Covid-19 funds made available to businesses and households as part of the fight against the effects of the crisis. The institution also informs that the budget deficit has maintained its pace by standing at 5.6% of GDP.

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